Indiana State Life and Health
Insurance Exam (205 questions) with
solutions.
How many days is a temporary producers license valid?
30
60
90
180 - Ans>>180
In Indiana, the maximum fine the commissioner can impose on a producer or
company who violates a cease and desist order is per violation?
$10,000
$15,000
$20,000
,$25,000 - Ans>>$25,000
Which of these is an example of twisting?
A producer maliciously aligns another insurance company's financial status
A producer misrepresents a policy to induce a policyowner to surrender an
existing policy
A producer reduces the commission in order to sell a policy
A producer induces a policyowner with something of value to purchase a
policy - Ans>>A producer misrepresents a policy to induce a policyowner to
surrender an existing policy
Which of the following is a requirement to obtain a nonresident producer
license in Indiana?
Maintain a specific sales quota in resident state
Own real estate in Indiana
Be licensed as a producer in the producer's state of domicile
Pass a special examination for nonresident producers - Ans>>Be licensed as
a producer in the producer's state of domicile
P is a producer who is licensed in Indiana, but a resident of Michigan. In
Indiana , P is considered to be a____Producer?
,Nonresident
Foreign
Alien
Reciprocal - Ans>>Nonresident
If an existing Accident and Health policy is being replaced with a new policy,
the decision to replace should not be based on?
Waiting Periods
Commissions to be Paid
Exclusion and Limitations
Underwriting Requirements - Ans>>Commissions to be Paid
A domestic insurance company in Indiana must?
Be organized under Indiana insurance laws
Own real estate in Indiana
Write insurance on risks located only in Indiana
Honor the charter of the NAIC - Ans>>Be organized under Indiana insurance
laws
Which of the following is a requirement to obtain a nonresident producer
license in Indiana?
, The producer must be at least 21 years of age
The producer's state of residence must have reciprocity with Indiana
The producer must be bonded in the producer's state of domicile
The producer must pass a special examination for nonresident producers -
Ans>>The producer's state of residence must have reciprocity with Indiana
What is Indianas definition of Life insurance replacement?
A transaction in which coverage on an existing policy is increased
A transaction in which group life coverage is converted to an individual policy
A transaction in which a new policy is bought and an old policy is terminated
A transaction in which a policyowner reinstates a lapsed policy - Ans>>A
transaction in which a new policy is bought and an old policy is terminated
Upon reaching the limiting age, a handicapped child can extend their health
insurance coverage as a dependent?
Only if the child is incapable of employment and chiefly dependent on the
policyowner
For up to an additional 10 years only
Insurance Exam (205 questions) with
solutions.
How many days is a temporary producers license valid?
30
60
90
180 - Ans>>180
In Indiana, the maximum fine the commissioner can impose on a producer or
company who violates a cease and desist order is per violation?
$10,000
$15,000
$20,000
,$25,000 - Ans>>$25,000
Which of these is an example of twisting?
A producer maliciously aligns another insurance company's financial status
A producer misrepresents a policy to induce a policyowner to surrender an
existing policy
A producer reduces the commission in order to sell a policy
A producer induces a policyowner with something of value to purchase a
policy - Ans>>A producer misrepresents a policy to induce a policyowner to
surrender an existing policy
Which of the following is a requirement to obtain a nonresident producer
license in Indiana?
Maintain a specific sales quota in resident state
Own real estate in Indiana
Be licensed as a producer in the producer's state of domicile
Pass a special examination for nonresident producers - Ans>>Be licensed as
a producer in the producer's state of domicile
P is a producer who is licensed in Indiana, but a resident of Michigan. In
Indiana , P is considered to be a____Producer?
,Nonresident
Foreign
Alien
Reciprocal - Ans>>Nonresident
If an existing Accident and Health policy is being replaced with a new policy,
the decision to replace should not be based on?
Waiting Periods
Commissions to be Paid
Exclusion and Limitations
Underwriting Requirements - Ans>>Commissions to be Paid
A domestic insurance company in Indiana must?
Be organized under Indiana insurance laws
Own real estate in Indiana
Write insurance on risks located only in Indiana
Honor the charter of the NAIC - Ans>>Be organized under Indiana insurance
laws
Which of the following is a requirement to obtain a nonresident producer
license in Indiana?
, The producer must be at least 21 years of age
The producer's state of residence must have reciprocity with Indiana
The producer must be bonded in the producer's state of domicile
The producer must pass a special examination for nonresident producers -
Ans>>The producer's state of residence must have reciprocity with Indiana
What is Indianas definition of Life insurance replacement?
A transaction in which coverage on an existing policy is increased
A transaction in which group life coverage is converted to an individual policy
A transaction in which a new policy is bought and an old policy is terminated
A transaction in which a policyowner reinstates a lapsed policy - Ans>>A
transaction in which a new policy is bought and an old policy is terminated
Upon reaching the limiting age, a handicapped child can extend their health
insurance coverage as a dependent?
Only if the child is incapable of employment and chiefly dependent on the
policyowner
For up to an additional 10 years only
